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Factors such as innovation in businesses, changing customer preferences, the rapid proliferation of mobile devices & apps, increasing penetration of IoT, and growing adoption of the cloud platform are expected to drive the digital transformation market. Security and privacy concerns for confidential data can restrain the growth of the market.

“Based on component, the solution segment is estimated to lead the digital transformation market in 2017”

Based on component, the solution segment is estimated to lead the digital transformation market in 2017. The growth of this segment can be attributed to the increasing need for cloud computing, big data & analytics, mobility, disruptive technology, and social media.

“Based on deployment type, the cloud segment is estimated to lead the digital transformation market in 2017”

Based on deployment type, the cloud segment is estimated to lead the digital transformation market in 2017 due to easy deployment, low deployment cost, and easy upgradeability and accessibility. The cloud-based deployment type enables easy access to data from desktops or any mobile device and provides various cost-saving benefits.

“Based on end user, the enterprises segment is estimated to lead the digital transformation market in 2017”

Based on end user, the enterprises segment is estimated to lead the digital transformation market in 2017, as enterprises increasingly opt for digital transformation solutions to improve their business process model and enhance their revenue.

“Based on vertical, the BFSI segment is estimated to lead the digital transformation market in 2017”

Based on end user, the BFSI (banking, financial services & insurance) segment is estimated to lead the digital transformation market in 2017. The BFSI vertical incorporates high-end digital technology to make transactions secure, simple, and error free. Furthermore, the development of financial services and technologies, such as mobile banking applications, omnichannel banking, and digital banking analytics enables customers to streamline and automate digital banking operations, thus leading to the increased adoption of digital transformation in the BFSI sector.

“The Asia Pacific digital transformation market is projected to grow at the highest CAGR during the forecast period”

The digital transformation market has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific region has been widely implementing digital transformation solutions to significantly to improve and streamline business processes and facilitate informed business decision making. Rising number of mobile device users, increasing use of social media analytics, and growing online commerce are some of the factors expected to fuel the growth of the digital transformation market in this region

The digital transformation market has been segmented on the basis of component, deployment type, end user, vertical, and region. Based on component, the digital transformation market has been segmented into solution and service. The solution segment has been further subsegmented into cloud computing, big data & analytics, mobility, disruptive technology, and social media; and the service subsegmented into professional services and system integration. Based one deployment type, the market has been segmented into on-premise and cloud. Based on end user, the market has been segmented into enterprises and SMBs. Based on vertical, the market has been segmented into BFSI (banking, financial services & insurance), healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others (transportation, defense, aviation, and hospitality). The digital transformation market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Key Benefits of Buying the Report:

The report will help market leaders and new entrants in the digital transformation market in the following ways:

The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the digital transformation market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insights to better position their businesses, and implement suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

List of Figures:Figure 1 Digital Transformation Market: Research Design Figure 2 Breakdown of Primary Interview: By Company Type, Designation, And Region Figure 3 Data Triangulation Figure 4 Market Size Estimation Methodology: Bottom-Up Approach Figure 5 Market Size Estimation Methodology: Top-Down Approach Figure 6 Microquadrant Matrix: Criteria Weightage Figure 7 Assumptions Figure 8 Based On Component, the Solution Segment is Expected to Be a Larger Segment of the Digital Transformation Market in 2017 Figure 9 Based On Deployment Type, the Cloud Segment is Projected to Grow at a Higher CAGR During the Forecast Period Figure 10 Based On Vertical, the Education Segment is Projected to Grow at the Highest CAGR During the Forecast Period Figure 11 North America is Estimated to Be the Largest Market for Digital Transformation Market in 2017 Figure 12 Changing Customer Preferences Are Expected to Drive the Digital Transformation Market During the Forecast Period Figure 13 Based On Component, the Service Segment is Projected to Grow at the Highest CAGR During the Forecast Period Figure 14 Based On Deployment Type, the Cloud Segment is Expected to Be a Larger Segment of the Market By 2022 Figure 15 North America is Estimated to Lead the Digital Transformation Market in 2017 Figure 16 Asia Pacific Digital Transformation Market is Projected to Grow at the Highest CAGR from 2017 to 2022 Figure 17 Digital Transformation Market Architecture Figure 18 Drivers, Restraints, Opportunities, And Challenges in the Digital Transformation Market Figure 19 the Service Segment of the Digital Transformation Market is Expected to Grow at a Higher CAGR During the Forecast Period Figure 20 the Cloud Segment of the Digital Transformation Market is Expected to Grow at a Higher CAGR During the Forecast Period Figure 21 the Small & Medium Businesses (Smbs) Segment of the Digital Transformation Market is Expected to Grow at a Higher CAGR During the Forecast Period Figure 22 Education Vertical of Digital Transformation Market, is Expected to Grow at the Highest CAGR During the Forecast Period Figure 23 North America is Estimated to Lead the Digital Transformation Market from 2017 to 2022 Figure 24 Geographic Snapshot: the Digital Transformation Market in Asia Pacific is Estimated to Grow at the CAGR During Forecast Period Figure 25 North America Digital Transformation Market Snapshot Figure 26 Asia Pacific Digital Transformation Market Snapshot Figure 27 Digital Transformation Market: Competitive Leadership Mapping, 2017 Figure 28 Cognizant: Company Snapshot Figure 29 Sap Se: Company Snapshot Figure 30 Microsoft Corporation: Company Snapshot Figure 31 Adobe Systems Incorporated: Company Snapshot Figure 32 Accenture Plc: Company Snapshot Figure 33 Capgemini: Company Snapshot Figure 34 Ibm Corporation: Company Snapshot Figure 35 Oracle Corporation : Company Snapshot Figure 36 Google Inc.: Company Snapshot Figure 37 Hewlett Packard Enterprise: Company Snapshot Figure 38 Ca Technologies : Company Snapshot

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The global digital transformation market is projected to grow from USD 205.99 Billion in 2017 to USD 493.39 Billion by 2022, at a CAGR of 19.1% from 2017 to 2022. Growing innovation in businesses, changing customer preferences, the rapid proliferation of mobile devices & apps, increasing penetration of IoT, and rising adoption of the cloud platform are some of the major factors driving the digital transformation market. The market has been segmented based on component, deployment type, end user, vertical, and region.

Based on component, the market has been classified into solution and service. The solution segment has been further segmented into cloud computing, big data & analytics, mobility, disruptive technology, and social media. The service segment has been further segmented into system integration and professional services. The service segment is expected to grow at a higher CAGR than the solution segment during the forecast period. Based on deployment type, the market has been segmented into cloud and on-premise. The cloud segment is estimated to account for a larger market share than the on-premise segment in 2017 and is also projected to register a higher CAGR during the forecast period. End users of digital transformation solutions and services include SMBs and enterprises. The SMBs segment is expected to register a higher CAGR than the enterprises segment during the forecast period. The verticals that use digital transformation solutions and services include BFSI (banking, financial services & insurance), healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, and government.

The geographical analysis of the digital transformation market includes regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific digital transformation market is projected grow at the highest CAGR during the forecast period. Presence of emerging economies and government initiatives pertaining to the adoption of digital transformation solutions and services in the public sector are expected to fuel the market’s growth in this region. The presence of various developed as well as emerging economies, such as Japan, Singapore, Australia, India, and China, has made Asia Pacific a lucrative market for the IT industry. Furthermore, in this region, digital transformation solutions and services are increasingly used by companies to improve and streamline business processes and to facilitate informed business decision making.

One of the major factors restraining the growth of the market is the security and privacy concerns for confidential data. Security is a major issue while executing digital enablement technologies, thus endangering the success of digitization. As IoT becomes more widespread, organizations will increasingly require more robust security and privacy to prevent breaches. With the growing number of IoT-enabled systems, the number of security and privacy issues will also increase, and every endpoint, gateway, sensor, and smartphone will become a potential target for hackers. Furthermore, organizational data can be easily accessed on the go with the help of BYOD devices, such as smartphones, tablets, phablets, and laptops. The middleware application makes these devices portable, thereby making them vulnerable to loss of physical control and network security breaches. Using a portable device can increase the risk of data loss and exposure of data and device through network-based attacks to-and-from any system the device is connected to.